Our Home Buyers Guide is intended to summarize the process, while providing in depth details of each step along the way and provide many helpful tips.

7 Steps To Home Ownership

Step #1 - Preparation

Build a good credit history (If not already done)

Find out what type of mortgage you qualify for and what fees are associated with your lender/loan type like closing costs, appraisal fee etc.

Save up for the down payment for the loan you qualify for.

Get a pre-approval letter from your lender.

Step #2 - Find a Realtor®

Referrals from family and/or friends are the best place to start. However, you can look up Realtors® in your area on https://www.realtor.com or you could stop by local real estate firms and ask to speak to an agent on duty.

Interview more than 1 real estate professional. Be sure to ask about buyers representation contracts and any fees associated with their brokerage you may incur.

Explain your needs and expectations to the real estate professional you choose to work with.

Step #3 - Find the Right Property

Determine what is important to you. Prioritize your needs such as schools, neighborhood amenities, monthly mortgage payment, proximity to work etc.

Be sure to include home owners assessments, utilities, taxes when calculating the monthly mortgage payment.

Step #4 - Finance the Right Property

Contact your mortgage broker or lender.

Be sure your choice of home qualifies for your loan type – often the overall condition, location and secondary mortgage guidelines can determine this.

Make sure you understand the financing terms – ask the lender for clarification if needed.

Step #5 - Make an Offer

Read all contracts before signing – make sure you understand all of the terms.

Place a competitive bid and be prepared to make a counter-offer.

Only one offer will result in a sale, so be prepared to move on if your offer isn’t accepted.

Make sure the title is clear, or make your offer contingent upon clear title. Acquire title insurance.

Step #6 - Accepted Offer

Once you have a fully executed offer between you and the seller it is time to investigate further.

Ensure the property is inspected by a licensed home inspector.

If financing, the property will need to appraise at or above the agreed upon purchase price. In the event a property doesn’t appraise, agreements may still be reached mutually. Speak with your lender and Realtor®.

While proceeding towards closing be sure to keep your credit score stable and refrain from purchasing any big-ticket items until after closing.

Step #7 - Closing and Home Ownership

Set a move date and hire movers or plan a moving party with your friends.

Schedule a date for utilities to transfer into your name.

Keep all of your files/documents you obtained throughout this process in a safe place. Maintain your files (digitally or hard copies) for all closing documents, contracts, warranties, insurance documents, etc.

Protect your new asset. Typically a buyer has already obtained homeowners insurance at this point. However, you may consider completing some of those items on the inspection report or additional coverage’s such as flood, disaster and fire.

Implement desired changes such as paint, flooring etc. Make the house your home.

Get to know your neighbors and explore your new neighborhood.

If you experience nothing but great things from your real estate professional throughout this process, be sure to recommend them to your friends and family. Referrals are truly appreciated.